Companies swap hydropower assets in Sweden

STOCKHOLM, Sweden 9/10/09 (PennWell) – Swedish energy company Vattenfall and Germany’s E.ON said they have agreed to swap hydropower plants in northern Sweden.

The deal, which involves 300 GW of annual production, is expected to close by Jan. 1, 2010, the companies said.

Under the agreement, Vattenfall would own a 100 percent stake in the 52-MW Pengfors hydropower station on the Ume River, and E.ON would take over Vattenfall’s majority shares in the 64-MW Gulsele and 84-MW Hallby hydro plants on the Angerman River.

In January 2009, Vattenfall bought a 51 percent stake in an ocean energy site development company for 500,000 euros (US$648,225). (HydroWorld 1/21/09)